Income Tax Assessment Act 1997

CHAPTER 3 - SPECIALIST LIABILITY RULES  

PART 3-6 - THE IMPUTATION SYSTEM  

Division 203 - Benchmark rule  

Operative provisions  

SECTION 203-25  

203-25   Benchmark rule  

An entity must not make a *frankable distribution whose *franking percentage differs from the entity ' s *benchmark franking percentage for the *franking period in which the distribution is made. This is the benchmark rule .

Note:

If a corporate tax entity franks a distribution in breach of this rule, the distribution will still be a franked distribution, although consequences will flow under section 203-50 .